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    Amendment: SEC Form SC 13D/A filed by Putnam Premier Income Trust

    12/12/24 5:24:36 PM ET
    $PPT
    Finance Companies
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    SC 13D/A 1 sit241267_sc13da.htm SC 13D/A

     

    SECURITIES AND EXCHANGE COMMISSION 

    Washington, D.C. 20549

     

    SCHEDULE 13D/A 

    Under the Securities Exchange Act of 1934  

    (Amendment No. 5) 

     

    Putnam Premier Income Trust 

    ( PPT )

     

    (Name of Issuer)

     

    Common Stock

     

    (Title of Class of Securities)

     

    746853100

     

    (CUSIP Number)

     

    Paul E. Rasmussen 

    80 South Eighth Street, Suite 3300 

    Minneapolis, MN 55402-4130 

     

    (Name, Address, and Telephone Number of Person

    Authorized to Receive Notices and Communications)

     

    December 10, 2024 

     

    (Date of Event which Requires Filing of this Statement)

     

    If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

     

    * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

     

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

     

     

     

     

    CUSIP No. 746853100

     

    1 NAME OF REPORTING PERSON  
         
      Sit Investment Associates, Inc.  
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  
        (a) ☐
        (b) ☒
    3 SEC USE ONLY  
         
    4 SOURCE OF FUNDS (See Instructions)  
      00  
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐  
    6 CITIZENSHIP OR PLACE OF ORGANIZATION  
         
      Incorporated in Minnesota  
         
    NUMBER OF
    SHARE
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH
    7 SOLE VOTING POWER
    8 SHARED VOTING POWER
      20,988,438 Shares
    9 SOLE DISPOSITIVE POWER
    10 SHARED DISPOSITIVE POWER
      20,988,438 Shares

    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
      20,988,438 Shares  
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
      (See instructions) ☐
         
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
      22.0%  
    14 TYPE OF REPORTING PERSON (See Instructions)  
      IA  

     

     

     

    CUSIP No. 746853100

     

    1 NAME OF REPORTING PERSON  
         
      Sit Fixed Income Advisors II, LLC  
    2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)  
        (a) ☐
        (b) ☒
    3 SEC USE ONLY  
         
    4 SOURCE OF FUNDS (See Instructions)  
      00  
    5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) ☐  
    6 CITIZENSHIP OR PLACE OF ORGANIZATION  
      Organized in Delaware  
         
    NUMBER OF
    SHARE
    BENEFICIALLY
    OWNED BY
    EACH
    REPORTING
    PERSON
    WITH
    7 SOLE VOTING POWER
    8 SHARED VOTING POWER
      20,988,438 Shares
    9 SOLE DISPOSITIVE POWER
    10 SHARED DISPOSITIVE POWER
      20,988,438 Shares
    11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  
         
      20,988,438 Shares  
    12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  
      (See instructions) ☐
         
    13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)  
         
      22.0%  
    14 TYPE OF REPORTING PERSON (See Instructions)  
         
      IA  

     

     

    EXPLANATORY NOTE

     

    This Amendment No. 5 (“Amendment”) amends and supplements the statement on Schedule 13D filed on October 2, 2023, and amended by Amendment No. 1 filed on January 4, 2024, and Amendment No. 2 filed on April 3, 2024, Amendment 3 filed on May 7, 2024, and Amendment No. 4 filed on September 9, 2024 (as amended, the “Original Schedule 13D” and, as amended by this Amendment, the “Schedule 13D”), relating to the shares of Common Stock (“Shares)” of Putnam Premier Income Trust (the “Issuer”). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D.

     

    ITEM 5 Interest in Securities of the Issuer

     

    Item 5 of the Original Schedule 13D is hereby amended to read as follows:

     

    a) The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 95,598,021 Shares outstanding as of July 31, 2024, which is the total number of Shares outstanding as reported in the Issuer’s Report on Form N-CSR filed with the Securities Exchange Commission.

     

    As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 20,988,438 Shares held in client accounts which represent 22.0% of the Issuer’s outstanding Shares.

     

    b) Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA’s or SFI’s directors or executive officers own Shares directly.

     

    c) Transactions in Shares by the Sit Entities in the last 60 days are set forth in Exhibit A.

     

    d) The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts.

     

    e) Not applicable

     

    ITEM 7 Materials to be Filed as Exhibits

     

    Exhibit A: Schedule of Transactions in Shares by Sit Entities in the last 60 days.

     

    Signature

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete, and correct.

     

    December 12, 2024

     

    By: Sit Investment Associates, Inc.  
      /s/ Roger J. Sit   
    Name/Title: Roger J. Sit, Chairman & CEO   
         
    By: Sit Fixed Income Advisors II, LLC   
      /s/ Roger J. Sit   
    Name/Title: Roger J. Sit, Chairman & CEO  

      

     

     

     

    EXHIBIT A

     

    Schedule of Transactions in Shares by Sit Entities in the last 60 days:

     

    Date of Transaction Transaction Shares of Common Stock Price Per Share
    10/14/2024 SELL 16,800 3.34
    10/22/2024 SELL 1,285 3.31
    10/25/2024 SELL 2,500 3.27
    10/28/2024 SELL 201,400 3.26
    10/29/2024 SELL 50,000 3.26
    11/08/2024 BUY 13,981 3.31
    11/13/2024 BUY 6,615 3.27
    11/14/2024 BUY 24,515 3.27
    11/19/2024 BUY 2,300 3.25
    11/20/2024 BUY 11,278 3.25
    11/21/2024 BUY 100 3.26
    11/22/2024 BUY 50,000 3.25
    11/25/2024 BUY 25,126 3.27
    11/29/2024 BUY 47,108 3.29
    12/02/2024 BUY 2,000 3.30
    12/03/2024 BUY 27,660 3.31
    12/04/2024 BUY 34,146 3.33
    12/05/2024 BUY 4,569 3.33
    12/06/2024 BUY 4,943 3.34
    12/09/2024 BUY 52,403 3.34
    12/10/2024 BUY 826 3.34

     

     

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